Global Recyclable Packaging market size 2024, Forecast To 2033
8 Feb, 2024
The recyclable packaging market has exhibited robust growth, escalating from $30.05 billion in 2023 to $31.81 billion in 2024, indicating a compound annual growth rate (CAGR) of 5.8% in the historic period. This growth is attributed to the increasing environmental awareness and sustainability efforts, a surge in consumer demand for eco-friendly products, the expansion of circular economy initiatives and recycling infrastructure, the development of eco-conscious packaging materials, and compliance with regulatory standards for recycling and waste reduction. Anticipating continued strong growth, the market is projected to reach $40.32 billion in 2028 at a steady CAGR of 6.1%. Key trends in this period include regulatory compliance in recyclable packaging standards, smart and interactive recyclable packaging solutions, personalized packaging for individual consumer preferences, transparency in packaging material sourcing and disposal, and the integration of AI in sustainable packaging design.
Global Recyclable Packaging Market Key Driver
Increasing regulations favoring recyclable packaging materials are poised to drive the recyclable packaging market's growth. Global governments are imposing stringent rules to adopt recyclable packaging materials, aiming to reduce plastic landfill, enhance waste management, and foster sustainable business practices. Notably, in January 2022, the Food Safety and Standards Authority of India (FSSAI) proposed incorporating recycled plastic, aligning with the broader trend of promoting eco-friendly packaging. This regulatory momentum is expected to boost demand for recyclable packaging in the forecast period, addressing environmental concerns.
Get A Free Sample Of The Global Recyclable Packaging Market ReportGlobal Recyclable Packaging Market Segments
The global recyclable packaging market covered in this report is segmented –
1) By Type Of Packaging: Paper and Cardboard, Bubble Wrap, Void-fill Packing, Pouches and Envelopes
2) By Material type: Glass, Paper, Plastic, Tinplate, Wood, Aluminum, Biodegradable Plastics, Recycled Papers
3) By End Use Industry: Healthcare Industry, Food and Beverage Industry, Personal Care Industry
By Geography: The regions covered in the Recyclable Packaging market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Western Europewas the largest region in the recyclable packaging market in 2023. Asia-Pacificis expected to be the fastest-growing region in the recyclable packaging market share during the forecast period. The regions covered in the recyclable packaging market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Recyclable Packaging Industry Players
Amcor PLC, Tetra Laval International SA, Ardagh Group SA, Ball Corporation, Elopak AS, DuPont de Nemours Inc., Mondi Plc, Sealed Air Corp, Plastipak Holdings Inc., Uflex Ltd., David S. Smith Plc, Smurfit Kappa Group Plc, WestRock Co., Huhtamaki Group, Berry Global Group Inc., Gerresheimer Group AG, Sonoco Products Company, Crown Cork & Seal Company Inc., International Paper and Power Corp, Stora Enso Oyj, Graphic Packaging Holding Company, Reynolds Group Holdings Ltd., National Amalgamated Packaging Ltd., BWAY Corporation, Silgan Holdings Inc., AptarGroup Inc., Owens-Illinois Inc., Greif Inc., Pratt Holdings Proprietary Ltd., Evergreen Packaging LLC
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Recyclable Packaging Market Overview
The recyclable packaging are used for enclosing or protecting products for distribution, storage, sale, and use with recyclable materials such as glass, metal, card, paper, corrugated cardboard, and others. The recyclable packaging products help reduce carbon footprint and have numerous advantages including the conservation of raw resources, the reduction of production energy, and the reduction of greenhouse gas emissions. The recyclable packaging can be reused, recycled, or is biodegradable which allows for easier waste management.
Recyclable Packaging Global Market Report 2023 provides data on the global recyclable packaging market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The recyclable packaging market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.